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Private Wealth Management: The Complete Reference for the Personal Financial Planner, 9th Edition by Jerry Rosenbloom, G. Victor Hallman

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Types of Business Entities and Business Planning

When an individual or family has an interest in a closely held business, proper planning normally will be needed for various aspects of the business, such as its formation; operation; possible sale or liquidation; possible gifts of business interests; its disposition in the event of death, disability, or retirement of an owner; or its possible retention by the family in these situations.

POTENTIAL ISSUES

Potential issues may include but are not limited to the following:

image  What kind of business entity or entities should be used for the business?

  Who will control the business?

  Will there be ...

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